Tax Credits for Renters & Homeowners / Transition to Homeownership

The Greenmount West (GW) development committee and community association would like to invite you to attend a workshop on available tax credits for renters and homeowners as well as how to transition to homeownership. The GW development committee has asked representatives from Jubilee Baltimore Inc. and Neighborhood Housing Services of Baltimore to provide assistance and insight to available tax credits and the home buying process.

The workshop will be held March 17th at the Greenmount West Community Center, 1634 Guildford Ave, from 9 – 11 am. The workshop will be an informal opportunity to meet, to ask questions, and to receive hands-on help from Jubilee Baltimore Inc. and NHS of Baltimore representatives.

Potential Tax Credit Opportunities

Renter’s Tax Credit

This credit provides property tax credits for renters based on the reasoning that renters indirectly pay property taxes as part of their rent and thus should have some protection, as do homeowners.

Homeowner’s Tax Credit

Homeowners whose combined gross household income is less than $60,000 may receive a tax credit that limits the amount of property taxes.

Homestead Property Tax Credit

This tax credit protects homeowners, regardless of age, income, or property value, from annually spiking tax bills on their home.